M&A Newsletter — July 2023

Mexico's Infraestructura Concesionada de Irapuato, a road-infrastructure development services provider based in Mexico City, was acquired by Orión Fibra-E for MXN $500.00 million.

Mexico's Distrito Pyme, developer of an SME lending platform based in Tlalnepantla de Baz, Estado de México, was acquired by Financiera Sustentable (Finsus) for an undisclosed amount.

Mexico's Barnices y Resinas (BYRSA), a chemicals and paints manufacturer based in Ecatepec de Morelos, Estado de México, was acquired by Reacciones Químicas for an undisclosed amount.

Mexico's AMI Automation, a provider of automation and control solutions for the cement, paper, steel and oil industries based in Monterrey, Nuevo León, reached a definitive agreement to be acquired by Resonac Holdings (TKS: 4004) for an undisclosed amount.

Thirteen electric power generation plants owned by Spain's Iberdrola (MAD: IBE) were acquired by the Mexican Federal Government for approximately USD $6,000.00 million.

C&A México, owner and operator of a retail fashion business based in Arroyo Seco, Jalisco, was acquired by Grupo Alfar for an undisclosed amount.

A stake in Mexico's OXIO, developer of a programmable mobile platform for enterprises based in Mexico City, held by Realm Capital Ventures, was acquired by an undisclosed investor for an undisclosed amount.

A stake in Mexico's YAVE, developer of a mortgage-financing platform based in Mexico City, held by Activant Solutions, was acquired by an undisclosed investor for an undisclosed amount.

Canada's BBA Logistics, a freight brokerage services provider based in Oakville, ON, was acquired by Grupo Traxión (MEX: TRAXIONA) for USD $10.00 million.

A majority stake in LID Editorial Mexicana (a franchise of LID Business Media Global), a leading business-book publisher, was acquired by Spain's Editorial Almuzara for an undisclosed amount.

Mexico's Alsea (MEX: ALSEA), a multinational franchise-restaurant company based in Mexico City, reached a definitive agreement to sell 15 El Portón restaurants and two Corazón de Barro restaurants to an undisclosed investor for an undisclosed amount.

Mexico's GoTrendier, operator of a second-hand clothing buy-and-sell platform, formed a strategic alliance with 99 Minutos, a last-mile logistics provider, with the objective of adding more than 1,500 package drop-off and pick-up points to its platform with a sustainability focus.

Mexico's VeraDAT, a developer of a financial-crime detection platform designed to combat fraud, money laundering and terrorism financing, based in Mexico City, closed an angel funding round of USD $670,000.00 with undisclosed investors.

Mexico's BeeCuick, a B2B logistics-services provider for the hospitality sector based in Cancún, Quintana Roo, closed a seed funding round for an undisclosed amount with SOSV and Orbit Startups.

Mexico's Kunzapp, a developer of an application designed to optimize software management at enterprises, based in Mexico City, closed a funding round for an undisclosed amount with Daedalus Ventures.

Mexico's Zubale, a developer of business-management software designed to connect brands and retailers with independent workers, based in Mexico City, closed a funding round for an undisclosed amount with Transform Capital.

Mexico's Kinedu, a developer of a children's educational platform based in Monterrey, Nuevo León, closed a funding round of USD $6.82 million with 500 Global and other undisclosed investors.

Mexico's Nexu, a developer of an automotive credit comparison platform based in Mexico City, closed a financing round of USD $20.00 million with Spectra Investments, FJ Labs and other undisclosed investors.

Mexico's Valari, a developer of an embedded financial platform aimed at democratizing access to financial services based in Mexico City, closed a financing round for an undisclosed amount with SSC Venture Partners.

Mexico's Spakio, a mini-storage services provider based in Huixquilucan, Estado de México, closed a seed financing round of USD $2.00 million led by El Puerto de Liverpool, DGF Investimentos and VARIV Capital. Cracks Fund, Xochi Ventures, CISA Ventures and other angel investors also participated in this round.

Mexico's Meru, an operator of an online B2B procurement platform for SMEs based in Mexico City, closed a seed financing round for an undisclosed amount with FJ Labs.

Mexico's Vioo, an operator of a visual content creation marketplace for business projects based in Mexico City, closed a seed financing round of USD $1.00 million led by Wollef. Kima Ventures, 500 Startups LatAm, Colectivo Jaguara and other undisclosed investors also participated in this round.

Mexico's Devolut, a returns-services provider based in Mexico City, closed a SAFE note financing round of USD $500,000.00 led by FJ Labs. Pareto Holdings, Far Out Ventures and Forum Ventures also participated in this round.

Mexico's Glitzi, an operator of a health and wellness platform aimed at offering at-home spa and beauty services based in Mexico City, closed a financing round of USD $2.80 million led by Act One Ventures, Goodwater Capital and Gaingels. Y Combinator and other undisclosed investors also participated in this round.

U.S.-based Tomorrow.io, a developer of a hyperlocal weather-forecasting platform based in Boston, MA, closed a financing round of USD $87.00 million led by Activate Capital Partners, reaching a pre-money valuation of USD $350.00 million. An additional 14 investors also participated in this round.

Spain's GGTech Entertainment, a Madrid-based technology company operator serving the esports, video-gaming and education sectors, closed a funding round of USD $12.40 million led by Glisco Partners. Heart Beat also participated in this round.

U.S.-based Nuvocargo, a New York-based cross-border freight services provider, closed a funding round of USD $35.00 million led by QED Investors, bringing its pre-money valuation to USD $220.00 million. ALLVP, Magma Partners, Amador Holdings, Tresalia Capital and Maya Capital, among others, also participated in this round.

Uruguay's Nocnoc, a Montevideo-based developer of an online sales software designed to connect global sellers with Latin American markets, closed a funding round of USD $14.00 million led by PayPal Ventures. Caravela Capital, Mouro Capital, Quona Capital, IGNIA Partners and Broadhaven Capital Partners also participated in this round.

U.S.-based AvoMD, a New York-based operator of a no-code technology platform for the healthcare sector, closed a seed funding round of USD $13.15 million led by AlleyCorp. Las Olas Venture Capital, Epsilon Health, MedMountain Ventures, StartUp Health and 500 Startups LatAm, among others, also participated in this round.

Singapore's Poko, a developer of global payments technology for web3 games, creators and merchants, closed a seed funding round of USD $4.50 million led by Global Founders Capital, Nazca and Y Combinator. CreditEase, Dentsu Ventures, MS&AD Ventures, Amasia and Soma Capital, among others, also participated in this round.

U.S.-based Termii, a San José, CA-based developer of a multichannel messaging and customer-engagement platform, closed a funding round of USD $3.65 million led by FinTech Collective and Ventures Platform. Nama Ventures, MyAsiaVC, LoftyInc, Tofino Capital and NOA Capital, among others, also participated in this round.

Mexico's Campos Borquez, a Ciudad Obregón, Sonora-based producer of organic superfoods for the agricultural sector, closed a debt financing round in the form of a loan of USD $314.00 million with responsAbility Investments.

Mexico's Minu, a Mexico City-based developer of an unsecured microcredit services platform for employees, closed a debt financing round in the form of a loan of USD $20.00 million with Accial Capital.

BBVA México, a private financial institution based in Mexico City, closed a debt-financing round in the form of subordinated capital notes for USD $1,000.00 million with undisclosed lenders.

Mexico's Gaia Design, operator of an online furniture retail store based in Mexico City, closed a debt-financing round in the form of convertible notes for an undisclosed amount with FJ Labs.

Mexico's MGS Plastics Chihuahua, a plastic and rubber products manufacturer based in Ciudad Juárez, was acquired by Clayens NP, through its financial sponsors One Equity Partners, Siparex Group, Capza, Africinvest and Socadif, among others, via an LBO for an undisclosed amount.

U.S.-based Access Medical Laboratories, operator of a specialized diagnostic laboratory based in Jupiter, FL, was acquired by Grupo Diagnóstico Aries, through its financial sponsor Caisse de dépôt et placement du Québec, via an LBO for an undisclosed amount.

U.S.-based Ceres Terminals, a terminal-services provider for the handling of general cargo and containers based in Brentwood, TN, was acquired by Carrix, through its financial sponsors Blackstone and Promecap, via an LBO for an undisclosed amount.

U.S.-based tapNpay, a developer of payment technology designed to simplify toll collection from vehicles based in Cedar Park, TX, was acquired by Neology, through its financial sponsor AINDA, via an LBO for an undisclosed amount.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term marketable securities certificates for MXN $1,716.29 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Afirme (MEX: AFIRMAR) carried out the placement of short-term marketable securities certificates for MXN $569.26 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoraje Afirme (MEX: AFIRFAC) carried out the placement of short-term market securities for MXN $128.65 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of short-term market securities for MXN $1,982.84 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities for MXN $1,434.43 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

BBVA México (MEX: BACOMER) carried out the placement of short-term structured bank bonds for MXN $20.63 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Grupo Carso (MEX: GCARSO) carried out the placement of short-term market securities for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) carried out the placement of short-term market securities for MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte and Intercam Casa de Bolsa.

Ford Credit de México (MEX: FORD) carried out the placement of short-term market securities for MXN $388.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term market securities for MXN $360.74 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Navistar Financial (MEX: NAVISTS) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $126.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Paccar Financial México (MEX: PCARFM) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $440.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Cetelem (MEX: CETELEM) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $600.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Arrendadora Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $250.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Invex Controladora (MEX: INVEX) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $1,025.00 million on the Bolsa Mexicana de Valores (BMV) through Invex Casa de Bolsa.

Almacenadora Mercader (MEX: ALMER) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $306.76 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte, and Intercam Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $66.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Instituto del Fondo Nacional para el Consumo de los Trabajadores (MEX: FNCOT) completed the placement of market securities (certificados bursátiles) in the amount of MXN $6,400.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

The Central American Bank for Economic Integration (BIVA: CABEI) completed the placement of variable-rate medium-term notes for USD $7,000.00 million on the Bolsa Institucional de Valores (BIVA) through HSBC Casa de Bolsa and Casa de Bolsa Santander.

Grupo Elektra (BIVA: ELEKTRA) completed the placement of short-term marketable securities for MXN $1,500.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa, Punto Casa de Bolsa and Intercam Casa de Bolsa.

Japan's Toyota, a multinational automobile manufacturer, announced an investment of USD $328.00 million in its plant based in Guanajuato, Mexico, with the objective of adapting its production processes for a new hybrid model of its Tacoma pickup truck, to be targeted at the North American market.

Mexico's Grupo Modelo (a subsidiary of Anheuser-Busch InBev) announced an investment of USD $20.00 million in conjunction with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and another company to be determined, as part of a plan for the development of sustainability initiatives, with a particular focus on water stewardship.

France's Geodis, a global transportation and logistics services provider, inaugurated a new distribution logistics center based in Cuautitlán Izcalli, Estado de México, with an investment of USD $20.00 million.